Fire the first shot of community rights protection! RedStone's coin listing storm begins and ends

Author: Scof, ChainCatcher

Edited by: TB, ChainCatcher

Just today, RED, which had been active in Binance's trading for several days, was urgently stopped just before it was officially launched. According to the official explanation, the reason was that its project party temporarily changed the community airdrop allocation plan and announced that it would allocate an additional 2% of the total amount of RED tokens to the initial airdrop allocation to the missing community members.

Behind this is the effectiveness of the community's unfair resistance to airdrop distribution, or the compromise made by the RED project to maintain the token price, we have no way to know.

But at least this time, we can see that brave voices can still make a difference.

In community riots, who can pay for the time cost of users?

As a representative of the new cross-chain oracle, RedStone has previously attracted market attention with its innovative multi-chain architecture and strong investment background, including Coinbase Ventures and Blockchain Capital. But Redstone’s recent decisions have sparked widespread discussions in the community, focusing especially on airdrop disputes and pre-market price movements.

1. Lack of transparency in rule adjustments

During the years-long project construction process, many users have completed hundreds of tasks, including special tasks for holidays. The official has repeatedly emphasized that "accumulating points for tasks, there may be airdrops in the future." However, when the airdrop rules were finally announced, an additional "special role" was added as a condition for eligibility, which was not clearly stated before.

According to the official description of RedStone, identity in Discord has become the key to obtaining airdrops. Qualified roles include Vein Master, Deep Miner, Professor, IRL (has participated in offline activities), etc. Public data shows that the proportion of people with the above roles in the project DC group is only 2%.

However, according to feedback from community users, the project party has promoted RSG in various places as an important certificate for rewards, but after the airdrop was announced, the role was changed to the most important certificate.

2. Dispute on allocation of empty investment units

According to community feedback, preliminary estimates are estimated to be more than 98% of users who fail to obtain empty investment spaces, while many active users remain involved in past tasks and activities. This distribution method disappointed many community members, believing that there is a big gap from previous expectations.

3. Community reward ratio shrinks

In early publicity, the project party said that it would allocate 10% of the tokens to the community, but it is estimated that the actual distribution ratio may be less than 2%. According to incomplete statistics, only about 4,000 addresses were airdropped, which raised questions about the degree of commitment fulfillment.

Community member @snowmawer said that he "has watched the Spring Festival Gala during the Spring Festival, and he was holding his laptop and doing redstone tasks next to him." But in the end he still did not get a share of airdrops.

Encryption KOL@KuiGas also believes that the project party has put out a lot of tasks, but after the data is raised, everyone is abandoned.

In short, the opacity of the airdrop rules and the unexpected results are at the heart of this controversy. Before the airdrop, RedStone official emphasized the need to "ensure that early participants in the ecological stage are equitable representatives" (that is, they hope to take into account all kinds of contributors), but the actual distribution effect in the community seems to deviate from the principle of fairness, which has aroused strong doubts.

Rare "Christmas Tree" form

Before the community airdrop storm subsided, RED's K-line on the exchange came out with an unusual movement.

On the afternoon of March 6, the pre-market market of Binance RED/USDT once saw a price spread amplitude of up to 30% between 11:44-12:09 UTC+8 on the same day.

This situation also makes people feel that the market liquidity is extremely lacking, and trading mainly depends on the support of market makers. The participation of retail investors is extremely low, and they even have almost no active orders or trading, resulting in extremely severe price fluctuations.

Stephen, a Chinese community manager at RedStone, then clarified in the comments section that price fluctuations were not caused by market makers. According to his explanation, RED did not introduce market makers in the pre-market market, and the actual price changes were caused by trading rules -each user can only buy and sell up to 5,000 REDs in a single transaction, which affects the liquidity and price fluctuations of the market.

Faced with overwhelming doubts, RedStone's official response is currently very limited.

As of press time, the project party has not released a formal statement on the dispute on its official blog or Twitter. After the airdrop was issued, the RedStone team made a brief explanation in the Discord channel, saying that the airdrop reward is calculated based on the user's contribution in different dimensions, including but not limited to factors such as task points, community activities, partner tasks and contribution quality. However, these explanations lack quantitative details and are difficult to convince users. Some community members asked the team to disclose specific calculation formulas or data verification, but received no positive response.

Voice of Breakthrough: **Win the first shot of retail investors in

protecting their rights**

In this storm surrounding RedStone airdrop distribution, the voice of the community was finally responded, and retail investors' rights protection has achieved phased results to a certain extent.

At present, Binance has gradually restored the listing of RED, and will postpone the RedStone (RED) transactions originally scheduled to start at 13:00 (UTC) on March 6, 2025 to 16:00 (UTC).

Judging from RedStone's additional 2% token compensation, the project also chose to compromise after facing community pressure.

In the Web3 world, true decentralization is not only reflected in the technical architecture, but also in the power of the community. Only when users speak out bravely can unfair rules be forced to give in.